(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

December 19, 2007

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the
acquisition that is the subject of this Schedule 13D, and is filing this schedule because of
§§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: þ

Note: Schedules filed in paper format shall include a signed original and five copies
of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom
copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting persons initial
filing on this form with respect to the subject class of securities, and for any
subsequent amendment containing information which would alter disclosures provided in a
prior cover page.

The information required on the remainder of this cover page shall not be deemed to be
filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or
otherwise subject to the liabilities of that section of the Act but shall be subject to
all other provisions of the Act (however, see the Notes).

This Schedule 13D relates to the shares of common stock, par value $0.001 per share (the
Common Stock), of Pharmion Corporation, a Delaware corporation (the Issuer). The principal
executive office of the Issuer is located at 2525 28th Street, Suite 200, Boulder
Colorado 80301. This Schedule 13D supersedes the Schedule 13G previously filed by the Reporting
Persons (as defined below) with respect to the Common Stock on March 1, 2007.

trading in securities by, a variety of private investment funds, including SAC Associates.
The principal business of CR Intrinsic Investors is to serve as investment manager to, and to
control the investing and trading in securities by, CR Intrinsic Investments. The principal
business of Sigma Capital Management is to serve as investment manager to, and to control the
investing and trading in securities by, Sigma Capital Associates. The principal business of Mr.
Cohen is to serve as a principal of SAC Capital Advisors, SAC Capital Management, CR Intrinsic
Investors, Sigma Capital Management and other affiliated entities.

(d) None of the Reporting Persons has, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors).

(e) None of the Reporting Persons has, during the last five years, been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.

The
Reporting Persons expended an aggregate of approximately $164,154,000 of its investment
capital to purchase the 2,675,000 shares of Common Stock. Such transactions were effected in open
market purchases and acquired in the ordinary course of business and are held by SAC Associates and
CR Intrinsic Investments in commingled margin accounts maintained at Morgan Stanley & Co. and
Goldman Sachs & Co., which may extend margin credit to the Reporting Persons as and when required
to open or carry positions in the margin account, subject to applicable federal margin regulations,
stock exchange rules and credit policies. In such instances, the positions held in the margin
account are pledged as collateral security for the repayment of debit balances in the account. The
margin account may from time to time have debit balances. Since other securities are held in the
margin account, it is not possible to determine the amounts, if any, of margin used to purchase the
shares of Common Stock reported herein.

The Reporting Persons acquired the Common Stock subject to this Schedule 13D for investment
purposes, in the ordinary course of business and not with the purpose nor with the effect of
changing or influencing the control or management of the Issuer and without any agreement with any
third party to act together for the purpose of acquiring, holding, voting or disposing of equity
securities of the Issuer.

As part of the Reporting Persons continuing evaluation of, and preservation of the value of
their investment in the Common Stock of the Issuer, the Reporting Persons may from time to time (i)
engage in discussions with certain persons, including, without limitation, management or
representatives, the Issuers Board of Directors, other shareholders of the Issuer and other
relevant parties concerning matters with respect to the Reporting Persons investment in the Common
Stock, including, without limitation, the business, operations, governance, management, strategy
and future plans of the Issuer, (ii) write letters to, and respond to inquiries from, various
parties, including without limitation, the Issuers Board of Directors, management or
representatives, other shareholders and other persons or entities regarding the Issuers affairs
and strategic alternatives.

Depending on various factors, including, the Issuers financial position and strategic
direction, the outcome of any discussions referenced above, actions taken by the Board of
Directors, price levels of the Common Stock, other investment opportunities available to the
Reporting Persons, conditions in the securities market and general economic and industry
conditions, the Reporting Persons may in the future take such actions with respect to their
investment in the Issuer as they deem appropriate with respect to any or all matters referred to in
this Item 4 of Schedule 13D. The Reporting Persons may, from time to time, acquire or cause an
affiliate to acquire additional Common Stock or dispose of or cause an affiliate to dispose of some
or all of their Common Stock, engage in short-selling or hedging or similar transactions with some
or all of their Common Stock, or may continue to hold the Common Stock, depending on business and
market conditions, their continuing evaluation of the business and prospects of the Issuer, general
investment and trading policies of the Reporting Persons, and other factors, including changing
their intention with respect to any or all matters referred to in this Item 4 of Schedule 13D.
Except as set forth herein, or as would occur upon completion of any of the matters discussed
herein, the Reporting Persons have no present plan or proposal that would relate to or result in
any of the matters set forth in subparagraphs (a)-(j) of Item 4 of Schedule 13D.

Item 5. Interest in Securities of the Issuer.

(a) As
of the close of business on December 21, 2007, the Reporting Persons beneficially own
an aggregate of 2,675,000 shares of Common Stock, representing
approximately 7.1% of the shares of
Common Stock outstanding. The percentages used herein are based upon the 37,250,223 shares of
Common Stock reported to be

outstanding as of November 6, 2007 by the Issuer in its Quarterly Report on Form 10-Q filed with
the Securities and Exchange Commission on November 9, 2007.

SAC Capital Advisors, SAC Capital Management, CR Intrinsic Investors, Sigma Capital Management
and Mr. Cohen own directly no shares of Common Stock. Pursuant to investment management
agreements, each of SAC Capital Advisors and SAC Capital Management hold all investment and voting
power with respect to securities held by SAC Associates. Pursuant to an investment management
agreement, CR Intrinsic Investors holds all investment and voting power with respect to securities
held by CR Intrinsic Investments. Mr. Cohen controls each of SAC Capital Advisors, SAC Capital
Management, CR Intrinsic Investors and Sigma Capital Management. By reason of the provisions of
Rule 13d-3 of the Act, as amended, each of (i) SAC Capital Advisors, SAC Capital Management and Mr.
Cohen may be deemed to own beneficially 700,000 shares of Common Stock (constituting approximately
1.8% of the shares of Common Stock outstanding) and (ii) CR Intrinsic Investors and Mr. Cohen may
be deemed to own beneficially 1,975,000 shares of Common Stock
(constituting approximately 5.3% of
the shares of Common Stock outstanding).

(b) None of the Reporting Persons has sole power to vote or direct the vote or sole power to
dispose or direct the disposition of shares of Common Stock.

(i) SAC Capital Advisors has shared power to vote or direct the vote and shared power
to dispose or direct the disposition of 700,000 shares of Common
Stock, constituting 1.8%
of such class of securities;

(ii) SAC Capital Management has shared power to vote or direct the vote and shared
power to dispose or direct the disposition of 700,000 shares of Common Stock, constituting
1.8% of such class of securities;

(iii) CR Intrinsic Investors has shared power to vote or direct the vote and shared
power to dispose or direct the disposition of 1,975,000 shares of Common Stock,
constituting approximately 5.3% of such class of securities;

(iv) Sigma Capital Management has shared power to vote or direct the vote and shared
power to dispose or direct the disposition of no shares of Common Stock; and

(v) Steven A. Cohen has shared power to vote or direct the vote and shared power to
dispose or direct the disposition of 2,675,000 shares of Common Stock, constituting
approximately 7.1% of such class of securities.

(c) Information concerning transactions in the shares of Common Stock effected by the
Reporting Persons during the past 60 days is set forth in Schedule A hereto and is incorporated
herein by reference. All of such transactions were effected in open market purchases through
various brokerage entities on the NASDAQ exchange.

(d) No person other than SAC Capital Advisors, SAC Capital Management, CR Intrinsic Investors,
Sigma Capital Management and Steven A. Cohen is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock
directly beneficially owned by CR Intrinsic Investments.

(e) Not applicable.

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the
Issuer.

Other than as described herein, there are no contracts, arrangements, understandings or
relationships (legal or otherwise) between the Reporting Persons and any other person with respect
to the securities of the Issuer.

The Reporting Persons may, from time to time, enter into and dispose of cash-settled equity
swaps or other similar derivative transactions with one or more counterparties that are based upon
the value of shares of Common Stock, which transactions may be significant in amount. The profit,
loss and/or return on such contracts may be wholly or partially dependent on the market value of
the shares of Common Stock, the relative value of shares of Common Stock in comparison to one or
more other financial instruments, indexes or securities, a basket or group of securities in which
shares of Common Stock may be included, or a combination of any of the foregoing. In addition to
the shares of Common Stock reported herein, the Reporting Persons currently have short economic
exposure to 87 shares through such contracts. These contracts do not give the Reporting Persons
direct or indirect voting, investment or dispositive control over any securities of the Issuer and
do not require the counterparties thereto to acquire, hold, vote or dispose of any securities of
the Issuer. Accordingly, the Reporting Persons disclaim any beneficial ownership in any securities
that may be referenced in such contracts or that may be held from time to time by any
counterparties to such contracts. As of the date hereof, an affiliate of the Reporting Persons,
S.A.C. MultiQuant Fund, LLC, currently has short economic exposure to 6,231 shares of Common Stock
on loan from a third party to cover an open short position in the same number of shares.

After reasonable inquiry and to the best of each of the undersigneds knowledge and belief,
each of the undersigned, severally and not jointly, certifies that the information set forth in
this statement is true, complete and correct.